PPI - Is it to late?

scoops82

Hi


The GF has an old debt which she believes had PPI added to it.


However, we have no paperwork to confirm this. The debt has since been moved from Welcome Finance to Experto Credite - I will ask them about a CCA but as the debt wasn't originally with them I don't know if they will have the details on there account.


As we have no paperwork is It to late / impossible to claim for?


I know she might not receive any money but it could reduce the debt owed.


Thanks
S

societys_child

Is this the same debt?

https://forums.moneysavingexpert.com/discussion/5219853

scoops82

Yes, I am going to do the CCA and then request an early settlement but im unsure if we can still apply for PPI if the debt has been moved from one company to another. We have none of the original paperwork.


Obviously if we can reduce the debt then we can offer a lower early repayment figure.

Nasqueron

You don't "apply for the PPI" - you put in a complaint saying you were miss-sold. They can (and may well) offset any PPI refund against your debt.

Assuming she did have it, if it was a "single premium" PPI where the PPI was included in the loan, you need to ask them (if they agree it was miss-sold) to recalculate the loan without the PPI - it's crucial you do this as if you got a PPI refund as a cheque, even if you used the money to pay back some of the debt, you would still be paying back the loan + interest on the PPI element meaning you pay for longer.

I don't think applying for the CCA will help, there is a good chance they will assume she's trying to get out of the debt (common tactic on old loans to ask them to prove the CCA exists and then refuse to pay if it doesn't) and it'll cause all sorts of trouble - you need to send a DSAR for the paperwork listing the loan terms - you may have to start with the lender first and then go from there.

scoops82

Tanks - but who do we put the compliant into is where I am getting confused as the debt has moved on. Would the new company who the debt is now with have the history behind it to be able to see if


A - There was PPI ?
B - As its a new company how would they be able to dispute the PPI was mis sold?


I am being advised about a CCA - if we don't dispute the debt should we still do this?


We agree the debt exits but as it would take several years (7 in fact)to clear we were hoping to offer a lump sum now and have the debt cleared and classed as satisfied.

Heathenladd

scoops82 wrote: »

Hi


The GF has an old debt which she believes had PPI added to it.


However, we have no paperwork to confirm this. The debt has since been moved from Welcome Finance to Experto Credite - I will ask them about a CCA but as the debt wasn't originally with them I don't know if they will have the details on there account.


As we have no paperwork is It to late / impossible to claim for?


I know she might not receive any money but it could reduce the debt owed.


Thanks
S

Regarding 'Welcome Finance', read this thread and start from there;

https://forums.moneysavingexpert.com/discussion/5209321

Do it your self, don't rely on any ppi firm they will stitch you up for 30% of your own money.

smdabs

Whatever you do...do NOT use a claims company to help you with PPI claim...it's all crap. They use the same generated letter for every customer instead of treating customer's individual circumstances as they come.

As it is regarding a 'mis-sale' - it would be whoever the account was taken out with, regardless of whether they've changed or not - it would be them making the decision as to whether the initial product was missold by their staff or not.

Hope it helps

scoops82

That's thread was very helpful, thank you!